The Majority Leader in Parliament, Alexander Afenyo-Markin, has called for transparency regarding the sale of shares in four hotels by the Social Security and National Insurance Trust (SSNIT) to Dr Bryan Acheampong, the Agriculture Minister.
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Afenyo-Markin emphasized the importance of SSNIT making documents related to the sale available to the public. He stressed that transparency is crucial in such matters and urged SSNIT to address concerns without political bias.
SSNIT is currently in the process of selling 60% of its shares in the Elmina Beach Resort, Ridge Royal Hotel, La Palm Royal Beach Resort, and Labadi Beach Hotel to Rock City Hotel, owned by Dr Acheampong.
Stakeholders, including MP for North Tongu, Samuel Okudzeto Ablakwa, have raised concerns about potential conflicts of interest in the transaction.
Ablakwa has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate various allegations related to the deal.
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The petition cites concerns such as conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft, alleging violations of constitutional provisions.
In response to the allegations, SSNIT has denied any wrongdoing and outlined the process leading to the sale. The Trust stated that it engaged a Transaction Advisor in November 2018 to guide the selection of a strategic investor for its hotels.
SSNIT further explained that advertisements for expressions of interest were published, and a total of nine companies responded. Following a shortlisting process, six companies were issued with Request for Proposal documents.
Despite SSNIT’s explanation, Afenyo-Markin has called for a more detailed explanation of the deal, emphasizing the need for transparency in all of SSNIT’s investments.
He urged SSNIT to address concerns openly to ensure clarity and understanding among stakeholders, including labor unions.
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